AT&T Inc. (T)

AT&T Inc., FCFE calculation

USD $ in millions

	12 months ended	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
	Net income attributable to AT&T
	Net income attributable to noncontrolling interest
	Net noncash charges
	Changes in operating assets and liabilities
	Net cash provided by operating activities
	Capital expenditures
	Net change in short-term borrowings with original maturities of three months or less
	Issuance of other short-term borrowings
	Repayment of other short-term borrowings
	Issuance of long-term debt
	Repayment of long-term debt
	Issuance of other long-term financing obligations
	Free cash flow to equity (FCFE)

Based on: 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-18), 10-K (filing date: 2015-02-20).

AT&T Inc., current P/FCFE calculation, comparison to benchmarks

No. shares of common stock outstanding
Selected Financial Data (USD $)
Free cash flow to equity (FCFE) (in millions)
FCFE per share
Current share price (P)
Ratio
P/FCFE
Benchmarks
P/FCFE, Competitors1
Verizon Communications Inc.
P/FCFE, Sector
Fixed Line Telecommunications
P/FCFE, Industry
Telecommunications

Based on: 10-K (filing date: 2019-02-20).

If company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.

Otherwise, if company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

AT&T Inc., historical P/FCFE calculation, comparison to benchmarks

		Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
	No. shares of common stock outstanding1
	Selected Financial Data (USD $)
	Free cash flow to equity (FCFE) (in millions)2
	FCFE per share3
	Share price1, 4
	Ratio
	P/FCFE5
	Benchmarks
	P/FCFE, Competitors6
	Verizon Communications Inc.
	P/FCFE, Sector
	Fixed Line Telecommunications
	P/FCFE, Industry
	Telecommunications

Based on: 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-18), 10-K (filing date: 2015-02-20).